Connect with us

Hi, what are you looking for?


Oil could crash if Trump and Xi don’t deliver, JPMorgan says

A rally that boosted crude prices more than 10 per cent over..

A rally that boosted crude prices more than 10 per cent over the past two weeks could be in serious trouble if the US and China dont take a significant step toward resolving their trade dispute this weekend, according to JPMorgan Chase & Co.s head of oil research and strategy.

Investors are looking for “meaningful” progress from the meeting in Japan between US President Donald Trump and Chinas Xi Jinping — something more than merely resuming negotiations, Abhishek Deshpande said in an interview. Without it, Brent crude, now trading around $67 a barrel, could slide to $60 or lower, he said.

The two leaders confab at the G-20 economic summit will set the tone for next weeks meeting of the Organization of Petroleum Exporting Countries and other top crude producers. If theres progress toward a trade deal, the OPEC+ group may just extend existing output curbs, Deshpande said. If not, they may have to announce “meaningfully deeper” cuts to reassure investors worried about a global oversupply.

“These two meetings really have to show something more positive to turn around investor sentiment,” Deshpande said. “It cannot be something thatRead More – Source

ET Markets



In an interview with ET Now, Dabur India Director Mohit Burm..


The 147th Open championship will be at Carnoustie Golf Club in Scotland. Jan Kruger/R&A Golfers ..


Enlarge Oliver Morris/Getty Images) In response to an Ars re..


Enlarge/ You wouldn't really want to use Nvidia's ..